Uniken has changed, found new paths, learnt from mistakes. You have to believe in your creativity and hang on.
Sanjay Deshpande, CEO and Chief of Innovation, Uniken
Uniken was envisioned as an organization that would, through its security infrastructure, safeguard the relationships of an enterprise with its customers, employees and partners.
The company’s CEO and Chief of Innovation, Sanjay Deshpande, a man who began his career as a scientist, had a vision to break the silos between the domains of research and the real commercial world.
Sanjay had the romantic idea of setting up an R&D center in India and for almost 3-4 years, the company created a number of concepts and prototypes. Eventually, it realized that it needed to pick one idea and build on it.
And the idea was a product for the security space, that was immediately validated by a leading Indian defence organization.
The company developed a Massively Scalable Military Grade Secure REL-ID Private Network with revolutionary app-to-app tunnelling technology, which enables rapid provisioning and secure delivery of enterprise digital services, to millions of users, on untrusted devices.
While the company had in place a value proposition, it faced several challenges during its initial journey. Not only were Indian organizations averse to taking risks and being the first or early tech adopters, raising capital itself was challenging.
Having been endorsed by the defence segment, the company then targeted the product at the Banking vertical, with a view to helping institutions accelerate their delivery of digital services. Today we have over two million users in the banking sector on our platform. More recently, we have started work with banks in Israel. It has been a mind shift change for us. The Hacktics security team of Ernst and Young has tested and validated our product, informs Sanjay.
Sanjay believes that apart from its product, Uniken is also helping foster an eco-system of innovation that currently does not exist in India. Because I have seen different aspects of the innovation continuum, I realize there needs to be a path, a road, which can enable an innovation to reach its end of commercialization. We are helping other innovators to create that path, he says.
The company believes a large part of its success is owed to the right choices it has made, in selecting its people, customers, partners and investors. One has to make sure they share the same vision, Sanjay adds.
For us the next step is taking this story global. Speed is the key but we don’t want to be brashly aggressive. We are operating in a domain which is fundamentally built on trust, so we have to be very cautious in the way we build the market, Sanjay states.
Over the next five years, the company hopes to achieve USD 100 million in revenues by protecting more than 10 million digital end points, with an average CAGR of 200 percent.
I tell people, believe in the story, don’t give up. Correct the path but don’t give up on the final goal. Uniken has changed, found new paths, learnt from mistakes. You have to believe in your creativity and hang on, he adds.